AZE.US
Demand for land plots with title deeds is rising in Azerbaijan, as buyers increasingly look for legally documented land suitable for building private homes.
In Baku, land prices have started to climb again. Depending on location and infrastructure, the price of one sot, equal to 100 square meters, can range from 5,000 manats, or about $2,940, to as much as 500,000 manats, or about $294,000.
Real estate specialists say the market traditionally becomes more active in spring and summer, when more people consider building private houses and weather conditions make construction easier.
According to property expert Elnur Farzaliyev, the strongest demand is now for land plots with official title deeds. Buyers are trying to avoid future problems, including difficulties with connecting newly built homes to utilities.
Farzaliyev noted that under rules in effect since October 2023, land used for the construction of an individual residential house must have a title deed, and the document must state that the plot belongs to the category of residential settlement land.
As a result, plots with both a title deed and the correct land designation have become especially valuable. Farzaliyev said prices for such plots have increased by around 30-40% since 2023.
Because the supply of legally documented land plots is limited, prices have been rising sharply.
In central parts of Baku and areas with developed infrastructure, the price of one sot can reach 150,000-300,000 manats, or roughly $88,000-$176,000. In some locations, prices can go as high as half a million manats.
The increase is not limited to the capital. In recent months, activity has also grown in tourist regions, especially in areas with potential for recreation and rural tourism.
AZE.US